13 arrested in Hong Kong over HK$113 million ‘iAM Smart’ laundering crackdown

Hong Kong police have arrested 13 people from a local syndicate on suspicion of laundering more than HK$113 million (US$14.4 million) using the government’s “iAM Smart” app. The force said on Friday that nine men and four women, aged between 38 and 75, allegedly used victims’ “iAM Smart” accounts to launder money through mule bank accounts. “The syndicate placed fake job advertisements in newspapers, claiming to be hiring cleaners,” said Wong Yuk-yan, acting superintendent from the New...

By Lo Hoi-ying